Domain name registrar and web hosting service provider, NetRegistry, has slashed the price of registration for .com.au and .net.au domains by almost 20% from $54.95 to $44.95 for two years.

The new NetRegistry offering prices domains at about one third the price of its largest competitor, MelbourneIT and, according to the company, the price drop is part of an aggressive growth strategy designed to close the gap on the incumbent number one.

“Domain registration and management is now an integral part of running a business,” said Brett Fenton, managing director for NetRegistry.  “Domains are registered not just in the start-up phase, but also for new product lines, services and other brands.  By reducing the cost of domains and introducing new online domain management tools we’re making it easier and cheaper for businesses to manage their online presence.”

The price drop is targeted at both prospective and existing domain owners.  “Too many businesses are paying too much for domains, often unaware that they can switch to an alternative provider for free.  With NetRegistry domains now a third of the price of our largest competitor it’s a significant saving for most businesses.  Already the number one registrar in terms of domain transfers, we hope today’s announcement will encourage more businesses to transfer their domains to NetRegistry.”

Of course, the real money in domain registration game comes with the additional business, such as web hosting services. The larger the database of domain name registrants that NetRegistry can capture, the bigger the pool of potential web hosting clients it can market to.